Location : Paphos,
Property Type: Luxury Resort DevelopmentProperty Terms: For SaleLocal Currency Price: Price in USD: Contact For Price
Real estate development in Cyprus, and to that point anywhere in the world, typically involves various types of land that can be used for different purposes.
When it comes to land that is used for the development of family oriented homes, the end product can range from single homes to apartment complexes with retail spaces on the ground floor. There is no end to the variety of residential properties that are designed and built in this day and age.
Commercial buildings like shopping centers, malls, and standalone stores require specific planning permission to fulfill the desired outcome. Office buildings, which range from the small single unit to entire buildings have similar requirements to meet as regards local authorities and building controls.
Warehouses, distribution centers, industrial plants, factories, heavy manufacturing facilities, ranching, or forestry purposes, parks, sports complexes, golf courses, and other recreational developments all come under the commercial development category.
Each type of land comes with its own zoning, environmental considerations, and development potential, which developers need to account for when planning projects.
Why Buy or Invest in New Real Estate Developments in Cyprus.
Cyprus has one of the most competitive tax regimes in the European Union. The corporate tax rate is low (12.5%), and there are tax incentives for individuals, including a non-domicile regime that offers tax exemptions on worldwide income, making it attractive for both business owners and expatriates.
Cyprus's real estate market has shown steady growth for gated communities and particularly for luxury resorts in the major cities like Nicosia, Limassol, and Paphos. The demand for quality luxury residential developments properties has been on the rise, particularly from foreign buyers, which helps sustain value growth.
Cyprus offers a residency-by-investment program, which allows investors to obtain residency through real estate purchases. Though the criteria have evolved, a significant investment in property still provides a route to residency and possibly citizenship, which can be a major draw for investors looking for international mobility.
Cyprus is a major tourist destination, attracting millions of visitors each year. This creates a lucrative opportunity for short-term rental investments (e.g., Airbnb), especially in popular tourist areas.
Cyprus offers a combination of tax incentives, growth potential, and a high quality of life that can make it a smart choice for long-term investors.
